Triumph Ventures Corp. Announces Completion of its Initial Public Offering

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES/

TORONTO, July 12 /CNW/ - Triumph Ventures Corp. ("Triumph"), a capital pool company, is pleased to announce that it has received conditional listing approval for its common shares from the TSX Venture Exchange (the "Exchange") and on July 12, 2010 closed its initial public offering of 4,075,000 common shares at $0.20 per share for aggregate gross proceeds of $815,000 through Portfolio Strategies Securities Inc., which acted as agent for Triumph. Triumph expects that trading will commence shortly under the symbol "TMP.P".

Upon closing of the offering, Triumph granted 509,500 incentive stock options to its directors and officers which are exercisable within five years from the date of grant at an exercise price of $0.20 per share. In addition, Triumph granted an aggregate of 407,500 broker warrants to Portfolio Strategies Securities Inc. which are exercisable 24 months from the date of listing of the common shares of Triumph on the Exchange at an exercise price of $0.20 per share. As a result of the closing of its initial public offering, Triumph now has 5,095,000 common shares issued and outstanding (1,020,000 of which are subject to escrow restrictions in accordance with the policies of the Exchange).

Triumph would like to thank Portfolio Strategies Securities Inc. for the role that it played in the distribution of the initial public offering of Triumph.

The only business of Triumph is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction." The funds raised under the offering are to be used to pursue its Qualifying Transaction.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

This press release contains statements about Triumph's expectations regarding the completion of the application for listing and the commencement of trading on the Exchange that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as final listing approval from the Exchange. Although Triumph believes that the expectations reflected in these forward-looking statements are reasonable as Triumph assumes it will be able to fulfill the terms of the conditional listing approval granted by the Exchange, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to fulfill conditions of listing and inability to obtain required regulatory approvals. The forward-looking statements contained in this press release are made as of the date hereof, and Triumph undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE TRIUMPH VENTURES CORP.

For further information: For further information: Robert Carbonaro, Vice President, Corporate Finance of Portfolio Strategies Securities Inc. at Telephone: (416) 367-0999, Facsimile: (416) 367-0997

Organization Profile

TRIUMPH VENTURES CORP.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890